EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Wednesday: AMTD, AXP, DFS, EBAY, FFIV, KMI, PLXS, SLM, SNDK, UNH, URI, USB, XLNX Thursday: ALTR, BBT, COF, COV, CP, INFN, ISRG, JBHT, KLAC, LUV, MCD, NOK, PCP, SBUX, TRV, UAL, UNP, VZ MARKET NOTE: The stock market is behaving much better technically today as the ECB has proposed a bond buying program similar to what the Federal Reserve did here in the U.S. This news has prompted equity buying across the globe as key U.S. indices have moved higher to potentially threaten a short-term breakout above key 20 day EMAs. Given the longer-term positive momentum that the stock market enjoys, this short-term development is significant. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. Many stocks will be removed from our Watch Lists in the next couple weeks as their earnings reports near. We'll also be replacing them with stocks that show superior results and strong technical reactions. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: There are no Short Watch List stocks at this time. Large Cap Watch List: ADBE - Mired in a flag formation with a break of the upper downtrend line the signal needed to encourage buying to resume. AMGN - Trying to clear 20 day EMA resistance, but hasn't been able to do it despite multiple recent tests. RAX - Momentum issues now resolved as the daily MACD is testing centerline support. Mid Cap Watch List: MLNX - 46.75 again holding back the bulls. Needs more volume and close above this resistance level. TASR - 27.01 is next breakout. Clearing that level with accelerating volume is what we want to see. Small Cap Watch List: QLGC - Trading just below its rising 20 day EMA with light volume. Not a bad initial entry or re-entry. DELETIONS FROM OUR WATCH LISTS: There are no deletions today unless closing stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com